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LEMON Co. Ltd (294140) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of LEMON Co. Ltd stock KRW 1,310, price KRW 2,190, that is 40.2% below the price, quality 29 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Consumer Cyclical KR · ISIN KR7294140009

LC LEMON Co. Ltd logo Thin data Nov 10, 2026

LEMON Co. Ltd

294140 · KQ
Very expensive, weak quality

Our calculation puts a fair price 40% below what the stock costs today.

Revenue last quarter 40% below a year ago.
Fair value 1,310 KRW · Strongly overvalued
Quality 29/100
Weak Growth (revenue 5y −37.8 %/yr in KRW)
Loss-making · -124.9% net margin (TTM)
Negative free cash flow
Trails peers (0/9)
Narrow moat 12/100
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

23,295 KRW 1,545 KRW Fair Value 1,310 KRW May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 1,545 KRW – 23,295 KRW · fair‑value band 982.14 KRW – 1,637 KRW · the 2,190 KRW price screens above the 1,310 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

LEMON Co., Ltd. develops and manufactures nanofibers in South Korea. The company provides sanitary pad, mask, breast pad, sanitary panties, and waterproof apron under the Air Queen brand. It also offers functional fiber, mask filters, beauty masks, protective clothing, and fruit bag.

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In addition, the company manufactures and sells EMI, heat dissipation, electromagnetic wave shielding parts, shielding heat dissipation composite materials, short cut fiber, wet-laid material, and 5G PCD SMD components.

The company was formerly known as Toptec HNS Co., Ltd. and changed its name to LEMON Co., Ltd. in April 2017. The company was founded in 2012 and is headquartered in Gumi-si, South Korea. LEMON Co., Ltd. operates as a subsidiary of TOPTEC Co., Ltd.

Stock analysis

LEMON Co. Ltd (294140) currently trades at 2,190 KRW, while our estimate is 1,310 KRW, 40% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 982.14 KRW (bear) to 1,637 KRW (bull), the price of 2,190 KRW sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 29/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

LEMON Co. Ltd reported revenue of 7.5B KRW in FY2025 versus 33.4B KRW in FY2021, a compound −31.3%/yr. Reported net income was −12.0B KRW in FY2025.

Key figures

Market cap 49.1B KRW (≈ $36.8M) Micro · P/S ratio 10.1 · EPS (TTM) −264.74 KRW · Net margin −125% · Return on equity −48.6% · Return on assets (EBIT) −53.6% (5-year average) · Operating margin −162% · Revenue (TTM) 4.7B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).

What moves the price

The share trades about 75% below its 52-week high and 42% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −9% fair-value upside, at −40%, 294140 screens richer than that median.

Fair Value

Bear 982.14 KRW Fair Value 1,310 KRW Bull 1,637 KRW
Price 2,190 KRW · Downside -40.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 3
How much profit the company makes from its sales and capital
Quality Growth 8
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 40
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 23
How calm the share price moves, does not count
Price momentum 24
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 5
Distance to the 52-week high, does not count
New shares 56
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−42.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−37.8%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−19.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
20.2% (2020) → −95.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

294140 screens overvalued: fair value 40% below the price. Compare with Tongkun Group →

Compare LEMON Co. Ltd with another stock

Price, fair value, quality and upside side by side.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Textile Manufacturing · 348 stocks

Beats the industry median on 0/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −40.2% · Below median
Profitability
Return on assets −47.0% · Bottom 25%
Net margin (12 months) −124.9% · Bottom 25%
Operating margin (12 months) −162.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −40.3% · Bottom 25%

Valuation Multiplesvs Textile Manufacturing median · lower = cheaper

P/B 5.40× · Priciest 25%
P/S (12 months) 10.33× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Shenzhou International Group 2313 HK$42.48 HK$72.40 +70% vs 294140
K.P.R. Mill Limited KPRMILL ₹1,155 ₹1,604 +39% vs 294140
Inner Mongolia ERDOS Resources Co 600295 ¥14.95 ¥16.12 +8% vs 294140
Far Eastern New Century Corporation 1402 27.15 TWD 27.89 TWD +3% vs 294140
Ruentex Industries Ltd 2915 53.20 TWD 48.61 TWD −9% vs 294140
Tongkun Group 601233 ¥22.89 ¥14.51 −37% vs 294140
Zhejiang Orient Holdings 600120 ¥4.37 ¥2.40 −45% vs 294140
Albany International Corp AIN $68.92 $24.93 −64% vs 294140
HMT (Xiamen) New Technical Materials Co 603306 ¥46.19 ¥14.96 −68% vs 294140
Welspun Living Limited WELSPUNLIV ₹252.21 ₹47.77 −81% vs 294140

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LEMON Co. Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "LEMON Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/294140

Frequently asked questions

Is LEMON Co. Ltd (294140) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 1,310 KRW versus a price of 2,190 KRW, about 40% lower (overvalued).
What is the fair value of 294140?
Our estimate for LEMON Co. Ltd is 1,310 KRW (as of Nov 10, 2026), built from audited fundamentals. The current price: 2,190 KRW.
What is the quality score of 294140?
LEMON Co. Ltd has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for LEMON Co. Ltd (294140)?
Our calculated price target is the estimate of 1,310 KRW (as of Nov 10, 2026). Cautious scenario 982.14 KRW, optimistic scenario 1,637 KRW. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the LEMON Co. Ltd stock forecast for 2026?
Our estimate puts fair value at 1,310 KRW, about 40% lower versus a price of 2,190 KRW (overvalued). Cautious scenario 982.14 KRW, optimistic scenario 1,637 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of LEMON Co. Ltd (294140)?
LEMON Co. Ltd reported trailing-twelve-month revenue of about 4.7B KRW (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of LEMON Co. Ltd (294140)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LEMON Co. Ltd it is 1,310 KRW per share (as of Nov 10, 2026), against a price of 2,190 KRW.
Is LEMON Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 294140 trades above its calculated fair value: price 2,190 KRW, fair value 1,310 KRW, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 294140?
No. The price is what the market pays today (2,190 KRW); the fair value is what the company's own numbers justify (1,310 KRW). For LEMON Co. Ltd the two are 880.48 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is LEMON Co. Ltd worth?
The market values LEMON Co. Ltd at about 49.1B KRW (market capitalisation, as of Nov 10, 2026). Per share that is 2,190 KRW; our models calculate a fair value of 1,310 KRW per share.
What do the bullish and bearish scenarios say about 294140?
Our models span a range for LEMON Co. Ltd: cautious scenario 982.14 KRW, base 1,310 KRW, optimistic 1,637 KRW per share (as of Nov 10, 2026, price 2,190 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of LEMON Co. Ltd (294140)?
Balance-sheet figures for LEMON Co. Ltd (as of Nov 10, 2026): return on equity −48.6%. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is 294140 from its 52-week high?
LEMON Co. Ltd trades at 2,190 KRW, about 75% below its 52-week high of 8,690 KRW and 42% above the low of 1,545 KRW (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 1,310 KRW is for.
Which stocks are comparable to LEMON Co. Ltd?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is LEMON Co. Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price 2,190 KRW, calculated fair value 1,310 KRW (−40%), Quality Score 29/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. LEMON Co. Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of LEMON Co. Ltd (294140)?
The closing price on Nov 10, 2026 was 2,190 KRW. Our estimate is 1,310 KRW, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LEMON Co. Ltd right now?
The price sits above even our optimistic bull case (1,637 KRW). The favourable scenario is already priced in. Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of LEMON Co. Ltd

How large is the market capitalisation of LEMON Co. Ltd (294140)?
The market capitalisation of LEMON Co. Ltd is 49.1B KRW (≈ $36.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of LEMON Co. Ltd (294140)?
The price-to-sales ratio of LEMON Co. Ltd is 10.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of LEMON Co. Ltd (294140)?
Earnings per share at LEMON Co. Ltd are −264.74 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of LEMON Co. Ltd (294140)?
The net margin of LEMON Co. Ltd is −125% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of LEMON Co. Ltd (294140)?
The return on equity (ROE) of LEMON Co. Ltd is −48.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of LEMON Co. Ltd (294140)?
On an EBIT basis the return on assets of LEMON Co. Ltd is −53.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of LEMON Co. Ltd (294140)?
The operating margin of LEMON Co. Ltd is −162% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LEMON Co. Ltd (294140)?
Revenue at LEMON Co. Ltd is growing −40.3% versus a year earlier (3y avg −42.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at LEMON Co. Ltd (294140)?
Earnings per share at LEMON Co. Ltd are growing +505% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does LEMON Co. Ltd (294140) generate?
The free cash flow of LEMON Co. Ltd is −7.7B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does LEMON Co. Ltd (294140) carry?
The net debt of LEMON Co. Ltd is 2.4B KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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